FILE PHOTO: Databricks logo is seen in this illustration taken December 17, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

By Andre Romani

SAO PAULO (Reuters) -Databricks has acquired a minority stake in data and artificial intelligence consultancy Indicium, the companies said on Tuesday, marking the San Francisco-based firm's first investment in a startup founded in Latin America.

The investment was made through Databricks Ventures, the company's venture arm. Financial terms were not disclosed.

Databricks, which offers a platform designed to help users ingest, analyze and build AI applications, was valued at $100 billion in a funding round earlier this year, making it one of the most valuable private companies in the world.

The deal with Indicium is the latest move by Databricks, a closely watched candidate to go public. It follows Databricks' recent expansion of its Sao Paulo office and the launch of an office in Mexico.

"We understand that companies need guided support to achieve analytical maturity and AI maturity," Indicium co-founder Isabela Blasi told Reuters. "The technology alone is not the solution."

Indicium, founded in the Brazilian southern city of Florianopolis in 2017, moved its headquarters to New York last year.

U.S. operations were responsible for 30% of Indicium's revenue last year, and the company expects to raise that to 60% in 2026.

The startup has about 450 employees and in 2024 raised $40 million in an early funding round. It has done business with Databricks since 2017.

"We're investing in Indicium because, over the years, it has established itself as a high-impact partner, with technical and strategic capabilities that align directly with our vision for the future of data and artificial intelligence," said Kori O'Brien, senior vice president of global partnerships at Databricks, in a statement.

(Reporting by Andre Romani; Editing by Lisa Shumaker)